Credit Unions

When credit unions were originally established by Congress, they were granted a federal tax exemption because they existed to serve those of modest means who share a common bond. Today, many credit unions are virtually indistinguishable from taxpaying community banks.

ICBA is urging Congress to level the tax and regulatory playing field between community banks and credit unions. Meanwhile, it strongly opposes the National Credit Union Administration’s expansionist agenda to circumvent Congress and award new powers to these tax-exempt institutions.